Trading plastic for gold

[SilverStacker]

Ive never used a credit card to buy PM's and Ive never carried anything over, using their money but paying off the card every month. I just paid off $2 K for the new tires I bought a few weeks ago with my plastic.

I have to say I'm sorely tempted to buy that 50 peso gold coin Ive always wanted and paying the $200 CC charge because Its my belief gold is at, or near, its floor. I should have jumped when it was under $4 K but I didn't have the ready cash to do so. I just dont believe in using CC's, or at least carrying bad debt, and debt doesn't get any worse then with a credit card. You might as well be borrowing from Tony Soprano.

I can easily pay off the coin in one or two months. In fact I'm sitting on $2 K of it right now but its part of my emergency fund. A $200 surcharge on a $5K coin is really nothing and Ive been mooning over this fricking coin for months now. I really want this coin and I dont think golds floor is going to last. I think it will shoot up to $5 K and then $7K + in short order. $7 K by the end of the year.

I know I'm usually wrong but this is gold. Thoughts anyone ?

 

[Someone_else]

I have known the love of gold for decades. If you want this coin and don't expect the price to go down, then buy it. Maybe you can avoid the CC fee by asking your CC for payment checks (or whatever they are called). They might hit you with a cash advance fee... or maybe not.

I know that in the 70's I was in love with my first gold coin, a 4 ducat. There is only one first love.

 

[SilverStacker]

Lately Ive been fascinated with Mexican metal. I have all the silbur Libertads except the fab four from the '90s and just bought 5 absolute mint state 1982 Libertads for $63 each. Two of them I'm giving away as gifts to friends.

But its the 50 peso gold Ive always wanted. Now gold is back under $4 K I see. Monument has one for $5,098.00 and my LCS is holding some. I might pop by there today and get their price. I'm not a rich man but have no real bills and paying off this CC would only take a month or two and a $200 surcharge is nothing for such a beautiful coin. My silburs came out of a roll that hadn't been opened since the guy bought them and they were the last five left. 1982 of course was the first year of issuance and while they certainly aren't rare I paid a lot more then $63 for the few I already had, "like in the $80 to $90 range". I'll never be able to swing a 1998 one, nor do I really care to at those prices, but I think I'll be able to find a 1996, 1997, and maybe a 1999. But before I spend crazy on silbur for a set I'll never be able to complete I'd rather have that 50 peso gold instead.

There are very few silber Libertads I dont have. But that 50 peso gold coin is just a work of art.

 

[nickndfl]

 

[SilverStacker]

What happened was the coin went on sale at Heros bullion, one of my favorite dealers, but for some reason my card was denied. Which was strange because I carry nothing on it and pay it off every month. I figured it was a Heros thing and I got weak in the knees again but it turned out being a CC company thing on orders over $5 K. Today I straightened it out but gold went up and the Heros sale was off so I passed. I still hate the idea of using a CC to buy PMs and will have the cash available this time next month.

I still think gold is at a floor and wont go under $4 K again and I'll regret not buying this coin later.

 

[SilverStacker]

View attachment 19938

The 50 peso gold coin is a coin that I just love looking at.

 

[nickndfl]

Buy whatever you can at spot or below. You can always trade.later for the 50. The 50 is a little harder to sell because it is more than a 1 oz and costs more. Most people choose a 1oz coin over the 50. I only have 1.